Latest News | Vedanta Arm SMCL's Board Approves Acquisition of Desai Cement Company

New Delhi, Nov 2 (PTI) Vedanta Ltd on Tuesday said the board of its indirect wholly-owned arm Sesa Mining Corp Ltd (SMCL) has approved the acquisition of Desai Cement Company Pvt Ltd.

The acquisition will enhance the group's portfolio with cement and help develop additional synergies through vertical integration.

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"The board of directors of Sesa Mining Corporation Ltd...has approved the acquisition of Desai Cement Company Pvt Ltd (DCCPL)," Vedanta said in filing to the BSE.

DCCPL is a cement manufacturing plant that has a facility of granulated blast furnace slag/ cement and ready-mix concrete.

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The plant is operational and is located at the Maina village in Goa, which is one km from the value-added business of Vedanta Ltd.

SMCL has entered into a share purchase agreement and it will acquire management control and hold 100 per cent of the paid-up capital of DCCPL. HRS hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)